Daily Briefing: Cashback app ShopBack raises $105.9m in Series B funding; SPH Ventures backs US-based influence.co

And IMDA has suspended virtual telco Zero Mobile’s licence over billing disputes.

From DealStreetAsia:

Cashback app ShopBack has secured $105.9m in an extended Series B funding round led by Singapore’s state investor Temasek.

The round was joined by existing investors such as Rakuten, EDBI, and EV Growth.

The extra capital will be deployed to expand ShopBack’s technology infrastructure and data capabilities.

The company had previously secured $63.5m as part of the round in April last year.

Read more here. 

From DealStreetAsia:

Singapore Press Holdings’ corporate venture arm SPH Ventures has joined a $4.24m (US $3m) investment in a seed funding round of US-based platform influence.co, according to an announcement.

The seed round was led by Bonfire Ventures with participation from ACT Capital, Alumni Ventures Group and Next 10 Ventures.

Influence.co provides a platform for the global influencer marketing community.

The company said that it will use this round of funding to scale its community and launch a media division focused on the influencer and creator lifestyle.

Read more here. 

From Channel News Asia:

The Infocomm Media Development Authority (IMDA) has blacklisted virtual teleco Zero Mobile and suspended its licence, after the company failed to address billing disputes with former subscribers.The authority has also blacklisted the company’s directors.

IMDA is currently investigating Zero Mobile for contraventions of consumer protection requirements under the authority's Telecom Competition Code, and said it would take enforcement action if there were any breaches.

At the same time, IMDA said it has worked with Zero Mobile to minimise the impact on about 230 former subscribers affected by the cessation of service, including ensuring their numbers are ported over to other telcos. 

Read more here.